Karnataka seeks increased foreign investment

NEW YORK:Karnataka has embarked upon a major infrastructure upgradation initiative to ensure that it remains the top destination for investments in the country, deputy chief minister B S Yediyurappa has said.

Yediyurappa, now heading an industrial delegation to the United States, told investors that the state is seeking investment not only in the IT sector but also heavy industry, pharmaceuticals, biotechnology and chemical industries.

Asserting that his country, provides the best possible environment for entrepreneurs, the deputy chief minister while addressing a dinner meeting of Indian and American investors at the Indian Consulate here yesterday said, Karnataka had a huge skilled workforce in every field and thus the entrepreneurs would not find any difficulty in recruiting the needed personnel.

The state, he stressed, presents a plethora of investment avenues spanning over a wide spectrum from consumer products and industrials to services sectors. It is "veritable treasure trove" for investors, given the wide variety of options available, he added.

Karnataka's increasingly congenial environment for investments, Yediyurappa said, is backed by rich culture, cosmopolitan lifestyle, excellent health facilities, travel connectivity, good law and order situation, best industrial relations and lowest man-days lost.

Deputy Consul General A R Ghanshyam spoke about state's long tradition of laying emphasis on quality education and commitment to industrialization, pointing out that it now hosts a large number of IT companies as also industries in diverse fields.